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GRANTOR, in Compliance with Section 13 of the Lien Law, Covenants that the Grantor Will Form

GRANTOR, in Compliance with Section 13 of the Lien Law, Covenants that the Grantor Will Form

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okay what is the priority of a common law or statutory lean um well generally there leans are separated into two categories there are possessory leans and non-possessory leans most possessory leans are going to be uh leans where an individual provides some level of work or something like that and the lean is used to secure payment for that work on the subject property or collateral okay uh so it's created uh B based upon statutory authorization again uh just to secure an individual in providing that work before they receive uh payment so this is a possessory lean a non-possessory lean is generally uh when there's some third-party reason for creation of the lean uh now this could be a uh court judgment um where you file it against property or execute it against property and that establishes a lean it could be a tax lean though tax leans generally have a higher level uh priority than other uh non-possessory leans uh but anyway generally a possessory lean is going to have

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